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Informist, Tuesday, Nov. 11, 2025

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of copper on the Multi Commodity Exchange of India edged lower Tuesday as investors booked profit following a sharp rise in prices in the previous session. Market sentiment for other base metals was also subdued because of a thin trade as the US market was shut on account of Veterans Day, analysts said.

 

Copper prices rose more than 1% in the previous session amid hope of an end to the prolonged US government shutdown, boosting risk appetite across commodity markets. A compromise that would restore federal funding cleared an initial Senate hurdle late Sunday, though it was unclear when would Congress give its final approval.

 

House of Representatives Speaker Mike Johnson said his chamber could pass the bill as soon as Wednesday and send it to President Donald Trump to sign into law, if the Senate acts quickly. Further, Trump Monday said he approves of a pending deal in the Senate that would bring the US government shutdown to a close. "I would say so," he said in the Oval Office, "based on everything I'm hearing."

 

"Copper also gained on fears of renewed tariffs on US imports," said Daniel Hynes, a senior commodity strategist at ANZ Research, in a note. "The Trump administration is set to revisit plans for levies on refined copper next week. This follows the government's move to designate copper as a strategic metal," Hynes said.

 

At 1707 IST, on the MCX, the November futures contract of:
-–ALUMINIUM was steady at INR 273.45 a kg
–-Copper was at INR 1,009.80 a kg, down 0.3%
–-LEAD was at INR 183.50 a kg, down 0.2%
–-ZINC was at INR 303.30 a kg, down 0.5%

--NICKEL was at INR 1,320.00 a kg, down 0.1%

 

Trading levels for the day on the MCX:
--Aluminium contract seen at INR 271.00 -INR 276.00
--Copper contract seen at INR 1,002.00-INR 1,016.00
--Lead contract seen at INR 182.00-INR 185.00
--Zinc contract seen at INR 300.00-INR 305.00
--Nickel contract seen at INR 1,290.00-INR 1,320.00

End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Subhojit Sarkar

 

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